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Rihanna

I Was Bankrupt

Because of My Stupid Accountant

2/12/2014 1:00 AM PST BY TMZ STAFF
EXCLUSIVE

0211-rihanna-tmz
Rihanna
says her accountant made so many boneheaded decisions that he blew her fortune and she was "effectively bankrupt" by the end of 2009.

The singer claims in new legal docs she had $11 MILLION in cash at the beginning of 2009.  Rihanna says the accountant was not on the ball and she was horrified to learn at the end of the year she had $2 million left. To make matters worse, her expenses doubled, which left her on a financial cliff.

As for how Rihanna blew through $9 million in one year ... she says her accountant gave her the green light to buy a house priced between $7 and 7 1/2 million. So she took his advice. She ultimately sold the house for a $2 million LOSS.

She also claims her 2009 tour -- Last Girl on Earth Tour -- was losing money but the accountant never gave her the heads up.

The legal docs were filed in connection with a lawsuit Rihanna filed against her accountant, claiming gross mismanagement.

BTW ... Rihanna has rebounded nicely.  Her net worth is now estimated at $43 mil.

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196 COMMENTS

No Avatar
31.

NOT ELMO    

Rihanna -- I Was Bankrupt Because of My Stupid Accountant.................YOU ARE A SKANK BITCH

256 days ago
32.

Zack    

Rihanna is nasty. That is all.

256 days ago
33.

Lebowski    

And who is the genius who hired the accountant? it's time she grew up and took responsibility for being so stupid….

256 days ago
34.

vidsoon    

Why are these people too stupid to manage their own money? Why do they live beyond their means? Why do they squander what they have and not plan for the future when they are no longer relevant?

256 days ago
35.

Steve    

Guess she should stop throwing ton's of stacks at the strip clubs...

256 days ago
36.

Pure Evil    

If you have $11 million to your name, why would you spend $7.5 mil on a house? Good thing she kept churning out the hits after that, otherwise she'd be broke now.

256 days ago
37.

JP    

She'll be bankrupt again. So will Chris Brown. So will Bieber. Britney will take a bit longer, but she'll end up broke also. Stupid isn't curable.

256 days ago
38.

Pyegow    

Something about her just makes me wanna punch her in the face! Now i get it!

256 days ago
39.

bel26    

this is why it's best to stay in school , so that why you can know how to keep up with your money , alot of celebs have not finnisjed school or even went to school , you will be surprise

256 days ago
40.

nick    

Stop blaming the accountant you dumb bitch. You had 9 million, and ended with 2 million...and bought a 7 million dollar house....yeah thats called math your dumb ****

256 days ago
41.

think101    

What a perfect teaching opportunity for young people that say they don't need math.

256 days ago
42.

zombie    

Actually it was YOUR ridiculous spending.

256 days ago
43.

STFUP    

Let's see now:
-She had $11 Million
-She bought a house for $7.5 Million
-She then sold that house for a loss of $2 Million
-That makes $9.5 Millon gone out of $11 Million
-
It seems to me, the only thing she might be able to blame the accountant for is that he didn't tell her the tour was losing money. If that was the case, she could easily blow through the remaining $1.5 Million.
-
She won't be able to recoup much, if any, through this court action. And even if she does get something, she'll have some big lawyer fees to pay.
-
She should have STAYED in the house she bought. Not bought it & sold it within 1 year for a $2 Million loss. That was HER decision - not her accountants.

256 days ago
44.

ukreporter    

Her earni.gs for 2013 was $43Million. That is not hercnet worth. Please FACT check TMZ, Internet Thugs and " Sheep led to SLAUGHTER". Thank You!

256 days ago
45.

Douy Swofford    

Blame the accountant.

256 days ago
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